Property is overpriced, by a big margin. To correct it quickly would financially ruin huge numbers of homeowners and bankrupt most lenders.

If successive governments are going to insist on meddling with the market, they should be aiming to gradually reduce prices by a percent or two every year for the next 15-20 years.

They were moving in the right direction with tougher lending rules, but more policies keep appearing to keep prices at artificially high levels.

How any sane politician can look at the situation and think that government-backed 95% mortgages are a solution, rather than part of the problem is beyond me.

Ohhhh dear, it's all going to end in tears... (again)
Property is overpriced, by a big margin. To correct it quickly would financially ruin huge numbers of homeowners and bankrupt most lenders.
If successive governments are going to insist on meddling with the market, they should be aiming to gradually reduce prices by a percent or two every year for the next 15-20 years.
They were moving in the right direction with tougher lending rules, but more policies keep appearing to keep prices at artificially high levels.
How any sane politician can look at the situation and think that government-backed 95% mortgages are a solution, rather than part of the problem is beyond me.CJ1989